Cargill reports third-quarter results
Cargill today reported net earnings of $1.03 billion in the 2008 third quarter ended Feb. 29, up 86% from $553 million in the same period a year ago. Earnings in the first nine months totalled $2.9 billion, a 69% increase from $1.71 billion a year ago.
Greg Page, Cargill chairman and chief executive officer
said Cargill’s global assets, market insight, diversification and risk
management skills have served the company well. “Our business model gives us the
wherewithal to remain customer focused in a very challenging operating
environment.”
said Cargill’s global assets, market insight, diversification and risk
management skills have served the company well. “Our business model gives us the
wherewithal to remain customer focused in a very challenging operating
environment.”
Four of Cargill’s five business segments increased
earnings from the third quarter a year ago. The largest earnings contribution
came from the origination and processing segment, which sources, processes and
distributes agricultural commodities and provides supply chain and risk
management services to customers globally. Results in agriculture services rose
mostly on the improved performance of Cargill’s global animal nutrition
operations.
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